Genetic Technologies Announces Offering of Approximately USD 1.2 Million of American Depository Shares
Genetic Technologies Ltd - American Depositary Shares (GENE)
US:NASDAQ Investor Relations:
gtgcorporate.com/investor-centre
Company Research
Source: GlobeNewswire
MELBOURNE, Australia, May 22, 2019 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE, “Company”), a diversified molecular diagnostics company, today announced that it has entered into a securities purchase agreement with certain accredited institutional investors, pursuant to which the investors have agreed to purchase an aggregate of 1,476,143 American Depositary Shares (“ADSs”), each representing one hundred and fifty (150) of the Company’s ordinary shares, at a price of $0.80 per ADS. The Company will receive gross proceeds of approximately USD 1.2 million, before deducting customary offering expenses. The investors also agreed to purchase warrants to purchase an aggregate of 1,107,107 ADSs at an exercise price of $0.80 per share (the “Warrants”). The warrants will be exercisable immediately following the date of issuance, will expire on the five year anniversary of the date of issuance. The offering is expected to close on or about May 23, 2019, subject
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